Trafigura publishes 2024 Sustainability Report

(Posted on 19/01/25)

Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’s ongoing commitment to responsible business practices and progress towards its environmental, social, and governance (ESG) goals.

Trafigura deploy infrastructure, market expertise and worldwide logistics network to move oil and metals and minerals, petroleum products, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable.

The Group’s tenth annual Sustainability Report details progress during the financial year to 30 September 2024. It highlights continued progress in a number of areas including:

• Investment to further strengthen governance and compliance. This included restructuring and expanding Risk, Credit and Internal Audit teams, updating Compliance policies and an improved internal compliance control framework.
• Reinforced ESG Steering Committee and established cross-functional working groups on topics such as business resilience and climate change to support implementation across the Group.
• Safety remains a key priority, with zero fatalities across the Group’s own operations. Rigorous health, safety and security standards continued to be enhanced and implemented at Group assets and promoted with suppliers.
• Scope 1 and 2 GHG emissions reduced in Group-owned operations by 31 percent against a FY2020 baseline with a mid-term target of a 50 percent reduction in Scope 1 and 2 GHG emissions by FY2032.
• Continued engagement on shipping decarbonisation through the Global Maritime Forum and First Movers Coalition, and implementation of efficiency measures on the Group’s owned and controlled fleet. Contract signed for four Medium Gas Carriers capable of using and carrying low carbon ammonia when delivered in 2028.
• Carbon desk services and reach expanded across global regulatory and voluntary carbon markets, with further investments in carbon removal projects.
• Continued investment into renewable power generation, implemented through Nala Renewables (wind, solar, battery energy storage) and MorGen Energy (green hydrogen). At the end of FY2024, Nala Renewables had c. 500MW in construction and operation, and 1.5GW in its secured pipeline. Morgen Energy continued to focus on its two flagship renewable hydrogen projects in Milford Haven, UK and Esbjerg, Denmark.
• Double materiality assessment underway to align with the EU Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS), with the expectation to report against CSRD in FY2026, based on FY2025 data.

Jeremy Weir, Trafigura Chairman, said: “On 1 January 2025, Richard Holtum took over as CEO of the Trafigura Group and I became non-executive Chairman, after more than a decade as Group CEO and more than seven years as Executive Chair. While there is still much we can improve, I reflect with pride on the company’s achievements in building a more diversified, responsible and sustainable business over this period.

“Fundamentally, our role is to supply the essential energy and raw materials the world relies on today, while also supporting the transition to a lower carbon future – and to do so efficiently, reliably and responsibly. I am confident we will continue to perform our role well in financial year 2025 and I look forward to continuing to oversee Trafigura’s progress in sustainability topics in my capacity as Chairman of the Board and member of the Board ESG Committee.”

Latest News

Bunge closes agreement to acquire NWT grain elevator assets

Bunge has successfully closed its purchase agreement for the grain elevator assets of North West Terminal... Read more

NGFA applauds Senate committee for advancing Grain Standards Act reauthorisation

The National Grain and Feed Association (NGFA) in the USA has applauded the Senate Agriculture Committee... Read more

Rio Tinto announces board changes.

As Rio Tinto previously reported, the size of its Board peaked at 14 Directors during a transitional... Read more

ADM advances quality capabilities with new central milling laboratory

ADM , a global leader in human and animal nutrition, has celebrated the opening of its new Central Milling... Read more

Bunge announces reporting segment changes and recast outlook

Bunge Global SA has announced that it has changed its segment and volume reporting to align with the... Read more

Open Trade Coalition calls for bold and open EU trade policy

As the European Parliament prepares for the confirmation hearings of the new Commissioners, the Open... Read more

Rio Tinto Q3 results show strong production across the portfolio

Multinational mining company, Rio Tinto, has releases its third quarter 2025 production results showing... Read more

Robe River JV to invest $733m to extend Western Australia iron ore mine

Rio Tinto, Mitsui and Nippon Steel will invest $733 million1 (Rio Tinto share $389 million) to develop... Read more

Cargill deploys AI robot dog 'Spot' to enhance safety, reliability and innovation

Cargill has introduced Boston Dynamics’ four-legged robot, Spot, at its Amsterdam Multiseed crush... Read more

Holcim strengthens West Australia presence with BGC acquisition

Holcim Australia has announced that Cement Australia (CA) - its joint venture with Heidelberg Materials... Read more